Today David Stockman warned King World News that there is a great “unwind” ahead that will “ricochet” violently through all global financialmarkets. Stockman also predicted there will be a worldwide flight to gold during the coming panic which will eclipse the mania seen in gold in 1980. KWN takes Stockman’s warning very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget. Below is what Stockman had to say in this powerful and exclusive interview.
Stockman: “The markets are just irrationally thrashing around in response to a Fed that has lost control of policy. They have been working their way to the edge of a cliff, I think, for years now with this massive money printing, bond buying, and zero interest rates.
They are saying through 2015 we are not going to tighten the short-term interest rate, which means it will be zero for (a total of) six years. That is just crazy, almost lunatic….
“Therefore, the markets no longer function as honest capitalmarkets or money markets. They are simply a lot of boys and girls and algorithms running around trying to trade whatever they think the Fed is going to do next based on word clouds and these massive daily purchases.
So we have a totally broken financial system and we can expect this kind of turmoil in every one of the major securities markets to get worse as we move towards the final blowoff of this third bubble that we’re in in the 21st century … and it’s only a matter of time before this one blows as well.
Today top trends forecaster Gerald Celente spoke with King World News about the power of gold and an economic collapse. Gerald Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Below is what acclaimed forecaster Celente had to say to KWN in this powerful and exclusive interview.
Celente: “That’s what he (Bernanke) said, ‘Nobody understands gold prices.’ He also called gold, I love this one, ‘An unusual asset.’ And he said that some people see gold as ‘disaster insurance.’ Yes, disaster insurance against what people like him and other central bankers are doing — creating a global disaster by printing all of this digital money….
“When you go back and listen to Bernanke, when Ron Paul was a member of the House (of Representatives) and was questioning him and Ron Paul asked him, ‘Is gold money?’ And Bernanke said, ‘No, it’s a precious metal.’
So here’s what I have to say: You better tell the Iranians. (And you better tell) the Turks and the Chinese that are buying Iranian oil and giving Irangold that they are really not giving them (Iran) anything of value, (that instead) it’s only ‘an unusual asset’ (laughter ensues). So they (the Iranians) are selling oil for unusual assets (laughter).
Good news, Microsoft fans! For a limited time buying Microsoft products will get you more Microsoft products for free. To be more specific, you’ll get a yearlong subscription to Xbox Live Gold when you purchase the new(ish) Microsoft Office 365 which also happens to be a subscription based software suite. Advertised as a back-to-school deal, the offer is good from July 18 through September 28, and despite some initial concerns, it is available in the United States as well as 38 other countries.
So go wild—at the cost of free, Xbox Live Gold suddenly doesn’t look like such a ripoff after all.